European Freeze Dry Aps

Ledelsesberetning

Key activities The Company deals primarily with the manufacturing and sale of freeze-dried food ingredients and contract manufacturing. Furthermore, the Company manufactures and sells its own freeze-dried meals and also private label meals, freeze-dried food ingredients to the retail market and pet food. Development in the year The income statement of the Company for 2024 shows a profit of DKK 1,470,330, and at 31 December 2024 the balance sheet of the Company shows a positive equity of DKK 26,173,734. The past year and follow-up on development expectations from last year In the Annual Report for 2023 the Company expected a profit in the range of DKK 3 - 5 million for 2024. The expectation did not materialize due to delay in customer projects and a general slowdown of market in second half of 2024. For 2025 the profit for the year is expected to be in the range of DKK 2 - 4 million. Capital resources Please refer to note 1 to the Financial Statements. Foreign exchange risks The Company evaluates on an ongoing basis the need to use financial instruments to hedge net positions and future transactions. At 31 December 2024 the Company has not entered into any hedge agreements. Research and development A continuous focus on the development of own new branded products and private label products for customers, as well as for commission drying customers is vital to the Company to maintain market leadership. External environment The Company is environmentally conscious and works from a sustainability point of view, both with suppliers, customers and in own operations. Unusual events The financial position at 31 December 2024 of the Company and the results of the activities and cash flows of the Company for the financial year for 2024 have not been affected by any unusual events. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.